Legend Biotech’s (LEGN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $75.00 price target on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q1 2025 earnings at ($0.17) EPS and Q4 2025 earnings at $0.10 EPS.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lowered their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Legend Biotech currently has an average rating of “Moderate Buy” and an average price target of $79.00.

Legend Biotech Trading Down 2.0 %

NASDAQ:LEGN opened at $32.80 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The company has a market cap of $6.02 billion, a P/E ratio of -34.53 and a beta of 0.21. Legend Biotech has a 1 year low of $29.27 and a 1 year high of $60.87. The stock’s fifty day moving average price is $35.03 and its two-hundred day moving average price is $37.79.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.46. The firm had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company’s revenue was up 134.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) EPS. As a group, analysts expect that Legend Biotech will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LEGN. Suvretta Capital Management LLC bought a new position in shares of Legend Biotech during the 4th quarter valued at about $113,767,000. Invesco Ltd. raised its stake in Legend Biotech by 44.7% during the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock valued at $107,706,000 after purchasing an additional 1,022,365 shares in the last quarter. Braidwell LP raised its position in Legend Biotech by 93.2% during the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after purchasing an additional 1,436,400 shares during the period. Wellington Management Group LLP raised its holdings in Legend Biotech by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company’s stock valued at $69,010,000 after buying an additional 84,405 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in Legend Biotech during the fourth quarter worth $50,493,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).